President Donald Trump told industry leaders he has decided on steel tariffs of 25 percent and a 10 per cent tariff for aluminum that critics say will bring a trade war.
'It'll be for a long period of time,' Trump said at the White House Thursday, speaking during a meeting where the White House invited in television cameras.
'We're bringing it all back,' Trump claimed, referring to the nation's shrinking steel industry, which has contracted over decades. He said the formal action would come next week – in comments that followed back and forth over whether the meeting would even occur.
'They won't be dumping on our country. What they do is they dump massive amounts of product in our country and it just kills, it destroys our companies and our jobs,' Trump said Thursday.
'We're going to be instituting tariffs next week,' Trump said.
President Donald Trump says the U.S. steel and aluminum industries are being undercut by other countries like China and Russia because of unfair trade
'Aluminum has been decimated in the country,' he complained.
Dave Burrit, the CEO of U.S. steel compared trans-shipping to 'whack-a-mole,' where third countries ship steel from third countries that originated in China
'We'll be signing it next week. And you'll have protection for a long time in a while. You'll have to regrow your industries, that's all I'm asking,' Trump said.
Burritt continued: 'We are not protectionists we want a level playing field.”
“It destroys our companies and our jobs,” Trump followed up.
'People have no idea how badly our country has been mistreated. ... We’re bringing it all back.'
'We need it for defense,' Trump said, justifying the move, which he said would lead to industry growth.
Trump talked about washing machine tariffs and solar panels tariffs and asserts companies are opening closed plants in United States. He reiterated he doesn’t blame other countries if other US leaders agreed to bad deals. “Those people should be ashamed of themselves.”
Trump: “Pretty much all of you will be immediately expanding if we give you that level playing field. What’s been allowed to go on for decades is disgraceful.”
Trump lashed out Thursday at 'unfair trade' as he weighs whether to impose tariffs or quotas on cheap steel and aluminum imports that he said are decimating US producers.
Trump did not